{"data":{"id":"us-ok/okla.-stat.-tit.-69-69-636.4","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 69, § 69-636.4","heading":"Department authorized to lease or lease-purchase road","body":"equipment and machinery - Eligibility of counties - Sales - Rental\n\nrate - Interest - Disposition of proceeds.\n\nA. The Department of Transportation may enter into a written\n\nlease or lease-purchase agreement providing new, surplus or used\n\nroad machinery and equipment for the use by a county during the then\n\ncurrent fiscal year. Any county leasing road machinery or equipment\n\nfrom the Department shall be eligible to enter into a like contract\n\nfor the ensuing fiscal year, and shall also be eligible to purchase\n\nthe same such units, as provided for herein.\n\nB. The Department of Transportation may sell any particular\n\nunit of road machinery or equipment to a county at any time after\n\nsuch unit has been leased for one (1) fiscal year for an amount not\n\nless than the original total cost of purchase, less rentals actually\n\npaid for the use of the unit, or any expenses incurred in\n\nreconditioning the unit; provided however, in so selling such unit,\n\npreference shall be given to the county leasing the unit during the\n\nthen preceding fiscal year.\n\nC. Whenever the Department of Transportation has agreed to sell\n\na unit of road machinery or equipment to a county, the title to said\n\nmachinery or equipment shall be transferred to the county upon\n\nreceipt of the final payment by the Department.\n\nD. Road machinery and equipment leased or lease-purchased by a\n\ncounty shall be leased or lease-purchased at the annual rental rate,\n\nwhich shall be fixed at an amount not less than that required to\n\namortize the original purchase cost of the unit by ten (10) years'\n\nrental thereof.\n\nE. The Department of Transportation may charge a county\n\ninterest on any lease or lease-purchase agreement for road machinery\n\nor equipment provided the Oklahoma Department of Transportation\n\nCounty Advisory Board determines and approves the rate to be\n\ncharged.\n\nF. All proceeds derived from the lease or lease-purchase of\n\nroad machinery and equipment by the Department of Transportation\n\nshall be deposited with the State Treasurer to be credited to the\n\nCounty Road Machinery and Equipment Revolving Fund.","path":["OK Code","Title 69"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os69.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"ddcee0b0be9ce00dfc9945ac644c4e0df796c037622846174c69025c76715058","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-69-69-636.3","next":"us-ok/okla.-stat.-tit.-69-69-636.5"},"notice":"GroundRules: Original legal text. Not legal advice."}